July 21, 2024

Lyophilized Drugs Market Driven By Increasing Demand For Heat Sensitive Biologics

The lyophilized drugs market has witnessed significant growth in recent years owing to the increasing demand for heat sensitive biologic drugs. Lyophilization or freeze-drying helps preserve the drug’s active pharmaceutical ingredients by removing water from the product after freezing. This drying process is widely preferred for heat-sensitive biologic drugs such as monoclonal antibodies, vaccines, and insulin as it prevents the chemical degradation of such drugs during storage and transportation. Freeze-drying also enhances the stability, efficacy, and safety of drugs by allowing longer shelf lives without refrigeration.

The global Lyophilized Drugs Market generated a revenue of around Us$ 317.8 Bn in 2023

Market Key Trends

One of the key trends in the lyophilized drugs market is the growing adoption of pre-filled lyophilized drug products. The development of pre-filled syringes containing lyophilized drugs helps ensure accurate dosing and ease of administration. It prevents exposure of the drug to moisture during preparation and provides longer shelf life. Manufacturers are extensively focusing on innovative lyophilization technologies and equipment to develop advanced pre-filled lyophilized drug delivery systems. Additionally, the emergence of lyophilization cycling services is augmenting market growth, as outsourcing formulation development and commercial production reduces costs and risks for drug manufacturers. Market players are also investing in continuous freeze drying systems to enhance production efficiency and capabilities for large-scale commercial manufacturing of heat-sensitive biologics.

 

Porter’s Analysis

Threat of new entrants: The Lyophilized Drugs Market has moderate threat of new entrants due to high capital requirement for R&D and manufacturing. However, new startups can enter through contract manufacturing.

Bargaining power of buyers: The bargaining power of buyers is moderate as lyophilized drugs have no substitutes for some therapeutic areas like oncology, cardiology etc. The availability of generics increases buyer bargaining power.

Bargaining power of suppliers: Suppliers of raw materials for lyophilization like fillers, binders have low to moderate bargaining power as they are commodity products available from multiple suppliers.

Threat of new substitutes: Threat of new substitutes is low as lyophilization provides improved stability and shelf life compared to alternative formats. New drug delivery technologies pose limited substitution threat currently.

Competitive rivalry: The market sees high competition due to presence of large pharmaceutical players globally and availability of generics.

Key Takeaways

The Global Lyophilized Drugs Market Size is expected to witness high growth. Regional analysis related content comprises Regional analysis related content. North America dominates the market currently due to advance healthcare infrastructure and high healthcare spending. Asia Pacific is expected to grow at fastest pace due to increasing healthcare expenditure in countries like India and China.

Key players related content comprises Key players operating in the Lyophilized Drugs Market are Gilead Sciences, Inc,Bristol Myers Squibb, F. Hoffmann-La Roche Ltd, Cipla Limited, Novo Nordisk A/S,SFresenius SE & Co. KGaA (Fresenius Kabi), anofi,Aurobindo Pharmaceuticals, Merck & Co., Inc,Takeda Pharmaceutical Company Limited, Zydus Group,Vetter Pharma,Johnson & Johnson Services, Inc. Gilead Sciences and Roche hold majority share currently due to broad lyophilized drugs portfolio. Increasing generics competition and emerging contract manufacturing are expected to increase competitiveness during forecast period.

Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it